Dabur explores online sales, sees material COVID-19 impact

Dabur, one of India’s largest manufacturers of daily essentials such as toothpastes, nutraceuticals and so on, said it saw a material impact on its its finances from the ongoing COVID-19 impact, and said it was exploring online options to boost sales. “On account of Covid-19 and consequent lockdown since March, the impact on our production […]

Center waives need for prior approval in Essential Commodities Act

The central government has temporarily waived the need for states to seek its agreement for issuing orders under the Essential Commodities Act. With this, state governments can issue orders and directions under the act without first seeking the approval of the center till June 30. The Essential Commodities Act, passed in 1955, seeks to ensure […]

Amazon, Flipkart festival sales beat slowdown blues, US firm claims No.1 spot

Amazon, the US-based online retailer, released a bunch of numbers on the final day of its five-day festival sale to paint a surprisingly rosy picture of its performance during the biggest sales event of the annual online calendar. Notable among the numbers was a 15-fold jump in the sales of smartphones during the sale period, […]

Amazon slowed investment into India due to protectionism – Wilbur Ross

US Secretary of Commerce Wilbur Ross today said that e-commerce giant Amazon, one of the biggest foreign investors in India, had scaled down its plans for investments in this country after the government came up with new, protectionist and restrictive ecommerce rules. In what was seen as a nasty blow to the likes of Walmart […]

Aditya Birla Fashion buys ethnic retailer for Rs 110 crore including debt

Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells “handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents”, for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company’s valuation, nor did it give […]

PE firms love malls in smaller Indian cities – Study

International private equity investors do not shy away from investing in malls in India’s tier-2 cities such as Amritsar, Ahmedabad, Bhubaneshwar, Chandigarh, Indore and Mohali, according to a study by Anarock Property Consultants. Real estate can be broadly divided into residential and commercial. Commercial is further divided into retail (malls) and office space. A total […]

Godrej sells Nature’s Basket to Spencer’s Retail

Godrej Group has sold its grocery chain Nature’s Basket to Kolkata-based Spencer’s Retail, part of the RP Sanjiv Goenka Group. Spencer’s Retail is especially strong in Chennai and Bangalore, and has also recently acquired another South Indian player Foodworld. The financial consideration for the sale was not revealed by Godrej. Godrej, for which Nature’s Basket […]

Rajesh Exports opens Shubh Jewellers outlet in Mangalore

Jewellery manufacturer Rajesh Exports opened its 82nd gold showroom under the Shubh Jewellers brand name in Mangalore. Launched in 2012 by Rajesh Exports, Shubh Jewellers enjoys a strong presence in South India, especially Karnataka. The company claims to have one of the world’s largest active jewellery design databases of around 29,000 designs. “We are planning […]

Future Supply Chain posts strong sales growth for Q2

Future Supply Chain Solutions Limited, the logistics arm of the biggest large-format retail chain in the country, continued to report strong growth on the top line and improving profits, but expenses too largely kept pace. The company’s revenue from operations grew by 34.4% on year to Rs 276.2 cr for the September quarter, an increase […]

RIL invests Rs 9.5 cr in Gurgaon-based Fashion startup

Reliance Industries, the parent of Reliance Retail, said it has acquired a 12.5% stake in a fashion company called Future101 Design Pvt Ltd at a cost of Rs 9.5 cr. The Gurgaon-based company designs and manufactures garments such as ladies kurtis and men’s shirts. “Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and […]

Future Retail buys Foodworld supermarket chain for Rs 41 cr

Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain that is popular in Bangalore, for Rs 40.79 cr in cash. The acquisition of the grocery-focused retail chain will strengthen Biyani’s existing portfolio of super markets, particularly the smaller stores under the EasyDay brand. Foodworld had revenue of Rs 119 cr for the year ended […]

PE player L Catterton buys 10% in Future Lifestyle, owner of Brand Factory, Central

L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount invested was not revealed. However, Future Lifestyle Fashions has an equity market value […]

Kishore Biyani unveils big expansion plans for Future Group this year

Kishore Biyani, head of Future Group, outlined mega expansion plans for his retailing business for the next 12-15 months in the context of the entry of WalMart into India’s retailing sector. “Our plan is to add 1,000 small stores over the next 12-15 months,” Biyani told CNBC-TV18 in an interview. “Our plan is to open […]

Future Group cos say no decision on selling 10% stake

Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]

Hero MotoCorp launches e-commerce portal for selling genuine parts

Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]